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PLEASE REVIEW AS OF 01/01/2016
UPDATED- POWERFUL FUNDAMENTAL TOPIC, LONDON LEAVING THE EUROPEAN UNION!! BREXIT!!! LONDON CURRENCY VALUE CONTINUES TO
FALL
2016 STERLING IN REVIEW & 2017
FORECAST!
STERLING NOT HAWKISH IN 2016, GREENBACK CONTINUES TO BEAST! WHAT NEXT WITH TRUMP AS PRESIDENT!
STERLING NOT HAWKISH IN 2016, GREENBACK CONTINUES TO BEAST! WHAT NEXT WITH TRUMP AS PRESIDENT!
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Ok,
this year I started my blog a little different from previous years with a
little promotion of myself anyway if you been a reading my blogs you know I was
trade to be a Sterling bull & if you been following the the Forex market,
Sterling has not been bullish since the end of 2007. With no hawkish
action from the B.O.E. in years now with BREXIT & which is the separation
from the European Union I don't see any technical reason why the fall of
Sterling shouldn't continue. Concerns about exports, no rate increases,
etc... The outlook for Sterling for 2017 is bearish!
Furthermore,
the conservatives are not in control from a political point of view which furthers
the bear mode. Well if there any strength in sterling in 2017 it should be
against the USD & NZD doing the first 6 month of the year. Trump is
the President of the States and the Greenback should start showing signs of
weakness, when the Republicans are in power the Greenback historically
weakens!!!!!!, but Global economic growth greatly increase!!!! NZD has been a
great power since the start of the global recession but from a technical point
of view it's time for investor who move the market to short NZD, yes it has
security with the highest interest rate but I would look for Sterling and the
Euro to advance in 2017 against NZD especially during the first 5 to 6
months. Finally look at the JPY, the fundamental point to an
increase in its strength against the Greenback & Sterling!
Finally
let’s look at price action from 2016: GBP/USD= JAN 2016 open at, 1.4909 bearish
trending to 1.3840 until, FEB. 28th. Sterling gain some strength but
everyone knew Brexit was coming the fact is Sterling hit it's high of the year
the day of the Brexit decision on June 23rd reaching, 1.5001 just as the
decision was being made. Since the Brexit decision Sterling is a short
hitting a low of, 1.1943 in the first few days of OCT. 2016, that's correct of
30,000 pips where taken in 4 months!!! As of this blog DEC. 29th 2016
Sterling is at, 1.2277!!
An
review of GBP/JPY= JAN 2016 open at, 1.8016, trending bearish all year on the
day of the Brexit decision, JUN. 23rd sterling was trading at, 1.6006 over the
next four months the JPY destroyed Sterling hitting a price of, 1.2213 during
the first week of OCT. 2016. As of this blog, Sterling is trading at,
1.4257 & technically, bearish!!
Please
not my views are mainly technical but correct, review my previous blogs if you
want to be sure. I think the outlook is very bearish unless the Hawkish
mindset returns to Sterling leaders or decision makers & with Brexit they
must become Hawkish if they are concern about Sterlings prices! England
has been the powerhouse for over 5oo years in the Forex market but if they
don't get back to their old pride, it looks like, NZD & JPY maybe the
new powerhouses of the Forex! Oh, the Euro will be a factor don't let the
fundamental issues blind you the Euro has too much support on a Global
scale to fail, perhaps even lead over the next two to seven years, replacing
Sterling as the Overlord! Once again I say, for the Euro as well a
Hawkish tone is greatly needed now.... I have to add even with
Sterling's weakens when they do counter-trend in bullish move it's still very
powerful and fast so be careful!! They are many many market movers who still
support Sterling but it doesn't look like they are holding their positions
long term anymore!! Rate increases must be integrated to restore a
bullish trend!!
Great
day & thank you for your time, remember to trade with the trend!!!!, think
in probabilities!!!! With money managements we are not fortune tellers, our
technical just give up an edge of being correct about 60%-75% of the time, but
not on each and every trade! Developing your hedging skills in this
current market of the last 5 years hedging is a must to learn!! Technical
traders have an issue with hedging due to the fact that we tend to be
perfectionist but it's more about probabilities on a serious of trades
(hedging) now and strong money management!! Hedge fund manager make more money
than the top actors in Hollywood!
Much
gratitude in contacting me with any questions or comments I’m available by
most online social media sites or just Google my name!!!!
